Global Gelfoam Market Size to Exceed USD 2.39 Billion By 2033 | CAGR of 8.68%
Category: HealthcareGlobal Gelfoam Market Size to Exceed USD 2.39 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Gelfoam Market Size Expected to Grow from USD 1.04 Billion in 2023 to USD 2.39 Billion by 2033, at a CAGR of 8.68% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 108Market data tables and figures & charts from the report on the" Global Gelfoam Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Absorbable Gelatin Sponge, Gelatin Powder, Gelatin Foam), Application (Surgical Hemostasis, Wound Care, Dental Procedures, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/gelfoam-market
The gelfoam market is the industry concerned with the production and application of gelfoam, a sterile, absorbable gelatin sponge. It is widely used in medical and surgical operations to control bleeding, promote hemostasis, and aid in tissue repair. It's commonly utilized in dental, orthopaedic, neurosurgery, and ENT operations. Moreover, the growing emphasis on patient safety and effective recovery after surgery is driving up demand for gelfoam. As hospitals and healthcare professionals work to reduce surgical risks, the demand for effective hemostatic treatments such as gelfoam grows. Furthermore, the growing frequency of chronic diseases worldwide, combined with breakthroughs in medical research, leads to increased utilization of gelfoam for various procedures. However, the gelfoam market is facing several problems, including high medical product costs, regulatory constraints, and low awareness in some regions. Competition from alternative hemostatic materials and concerns about product reactions in specific patients may potentially limit market expansion.
The absorbable gelatin sponge segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the product type, the gelfoam market is divided into absorbable gelatin sponge, gelatin powder, and gelatin foam. Among these, the absorbable gelatin sponge segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is mostly due to the absorbable gelatin sponge's widespread use in medicine and surgery to treat hemorrhages and promote hemostasis.
The surgical hemostasis segment accounted for the rapid growth in 2023 and is anticipated to grow at a substantial CAGR during the projected timeframe.
Based on the application, the gelfoam market is divided into surgical hemostasis, wound care, dental procedures, and others. Among these, the surgical hemostasis segment accounted for the rapid growth in 2023 and is anticipated to grow at a substantial CAGR during the projected timeframe. The segmental increase is driven by the increasing global number of surgeries, particularly in trauma care, orthopedic, and neurosurgery procedures where bleeding control is crucial. This raises demand for treatments such as gelfoam, which quickly controls bleeding and promotes clotting, making it highly prized among surgeons.
North America is anticipated to hold the largest share of the gelfoam market over the predicted timeframe.
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North America is anticipated to hold the largest share of the gelfoam market over the predicted timeframe. The region's well-developed healthcare infrastructure, high healthcare spending, and innovative medical technologies all contribute to this. The growing number of surgeries, combined with a strong emphasis on patient safety and effective hemostasis solutions, is driving the market for gelfoam products.
Aisa Pacific is expected to grow at the rapid CAGR of the gelfoam market during the forecast period. This region's growth factors include developing health infrastructure, an increase in surgery rates, and the availability of advanced medical technologies in countries such as China and India. Furthermore, as the region's population ages and becomes more conscious of surgical safety and wound care solutions, demand for gelfoam products will rise.
Major vendors in the global gelfoam market are Johnson & Johnson (Ethicon), Pfizer Inc., B. Braun Melsungen AG, Medtronic, Smith & Nephew, Stryker Corporation, Z-Medica LLC, Integra LifeSciences, Hemostasis, Inc., Fresenius Kabi AG, Mölnlycke Health Care, Lepu Medical Technology. and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gelfoam market based on the below-mentioned segments:
Global Gelfoam Market, By Type
- Absorbable Gelatin Sponge
- Gelatin Powder
- Gelatin Foam
Global Gelfoam Market, By Application
- Surgical Hemostasis
- Wound Care
- Dental Procedures
- Others
Global Gelfoam Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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